NetApp Signs MoU (Memorandum of Understanding) for Varanasi’s Smart City Initiatives

India: NetApp Inc., a US based storage and data management company has signed the MoU with Varanasi and Karnal Municipal Corporation in order to provide storage, surveillance and security infrastructure for the smart city projects.

In addition, the company has entered into the partnership with Cisco to provide the smart city solutions. The company is also looking forward to such partnerships with other technology vendors in order to contribute its development in smart city initiatives.

TechSci Research depicts that through this deal, NetApp will support the government for smart city initiatives. Moreover, with various partnerships, the company would expect to increase its market share in India Smart City Market. 

According to a report of TechSci Research, “Market Study on Upcoming Smart Cities in India, 2015”, the smart cities project in India would involve overall investments in tune of USD2 trillion for development of trunk and internal infrastructure in 100 cities planned under the project. Budget allocation towards the smart cities program stood at around USD1.2 billion for 2014-15. Gujarat, Rajasthan, Karnataka and Kerala are few of the states where maximum number of smart cities would be developed in coming years. Moreover, a number of smart cities are expected to be developed with foreign assistance on Delhi-Mumbai Industrial Corridor. Few of the major companies such as Cisco, IBM, 3M, EMC, GE, Honeywell, Otis, Timten, Louis Berger etc., have already announced intentions to invest in smart cities in the country.